Categories
Economics

[1014] Of property prices set to go up

The government has eased up restriction on trade. In particular, within the property industry. In the NST today:

KUALA LUMPUR: Foreigners can now own or invest in as many houses costing more than RM250,000 per unit as they want in Malaysia.

In a statement yesterday, the Prime Minister’s Office said effective today, foreigners can buy residential units costing RM250,000 or more without seeking approval from the Foreign Investment Committee (FIC) under the Economic Planning Unit of the Prime Minister’s Department.

What will this liberalization do?

Foreign demand for local property will increase total demand for property in Malaysia. That will increase property prices, while holding supply constant, with all else being equal. It might also add more liquidity in the property market.

Today might be a good day to invest in properties, if supply is unable to cope with the future demand surge.

Categories
Politics & government

[1013] Of dear minister, what if the communists…

I’m attracted to a post by The Sensintrovert that highlights an episode on the current communist memorial controversy between Malaysian information minister Zainuddin Maidin and certain fraction within the Chinese Malaysian community. In the article by Bernama:

Zainuddin, who is also the Member of Parliament for Merbok, had alleged during a speech at a Merbok Puteri Umno function last week that such memorials had been found at private Chinese cemeteries in Sarawak and in Nilai, Negeri Sembilan.

According to him, memorials should only be erected for those who had fought for the country’s independence or against the communists, irrespective of which group or movement they belonged to.

Dear minister, what if the communists had fought for Malayan independence? When the communists were fighting for Malayan independence, where was UMNO?

The communists did fight for Malayan independence and by your own qualification, memorials for the communists could be erected.

Regardless, not that I support typical communist ideals, sir, it’s none of your business. Those memorials are on private properties.

“We should not pay tribute to one movement or group that involved only a particular race but individuals or larger organisations that had played instrumental roles for the benefit of all the races in the country,” he said.

Oh, really? What about UMNO which its membership involved only a particular race?

Categories
Environment

[1012] Of is the record rainfall in Johor part of a larger trend?

According to news, Johor is practically under water after receiving above average rainfall on Monday and Tuesday. Singapore wasn’t spare either. Record breaking could be use to describe the rainfall in Johor and Singapore.

Bloomberg reports:

Out of 31 monitoring stations in Johor, 24 recorded “very heavy” rainfall of more than 60 millimeters yesterday, according to the Department of Irrigation and Drainage’s Web site. The highest rainfall of 289 millimeters was recorded in Johor Baru.

The Star reports that in Johor, nearly 30,000 people have been evacuated

MUAR: Nearly 30,000 people have been evacuated in Johor following the extraordinary heavy rainfall over the past three days, Mentri Besar Datuk Abdul Ghani Othman said.

…while Singapore suffered the worst rainfall in 75 years:

SINGAPORE: Singapore on Tuesday was hit by the third highest rainfall recorded in 75 years.

The 24-hour rainfall recorded was 366 mm.

About a year ago, northern Malaysian states along with southern Thai states suffered record breaking rainfall that caused massive flood. China, Japan and Vietnam each suffer their own record breaking snow and rainfall. Keep in mind while that occurred, the 2005 Atlantic hurricane season was the most active seasons in recorded history. In An Inconvenient Truth, Al Gore said “…Japan reported a record number of typhoons“.

The historic disaster in Johor makes me think, is it possible to link it to climate change?

The world is currently experiencing El Niño and El Niño is supposed to bring less rainfall to Southeast Asia on average, not more. If it’s true that climate change should cause more rainfall in this part of the world, and if it’s true that El Niño had actually reduced the amount of rainfall in Southeast Asia, imagine what it would be like if there were no El Niño.

In Malaysia, the mainstream society never really gives the issue of climate change a thought. We’re too pre-occupied with moral policing, religion, ethnicity and other trivial things appeal to our inferiority complex that do nothing to solve real pressing issues like the economy, education and the environment. It’s time for us to at least pay a little more attention to the environment and investigate the possible link between extreme natural climatic disasters that are hitting us year by year lately with a global trend that is climate change.

Categories
Photography

[1011] Of canoes at Titiwangsa Lake Garden

Last Friday, I was at the Great Green Promotion, organized by the Malaysian Nature Society. On the way back to my place, I stopped by Lake Titiwangsa. It’s been awhile since I last visited the place and I was curious if it has the same atmosphere it had when I last was there.

Large section of the park is under renovation, probably related to the Eye on Malaysia ferris wheel, for the Visit Malaysia Year event:

KUALA LUMPUR: A 60-metre high structure ‘Eye on Malaysia’, similar to the ‘London Eye’, will be unveiled at the launch of Visit Malaysia Year 2007 on Jan 6 at Taman Tasik Titiwangsa here.

Prime Minister Datuk Seri Abdullah Ahmad Badawi, at a click of a button, would light up the Ferris wheel with 42 gondolas to start the celebrations.

I also brought my camera along and took some snapshots. The one I like the best, from a pool of mediocre photos, is a shot of canoes:

Some rights reserved. By Mohd Hafiz Noor Shams.

One thing for sure, the park felt smaller.

Categories
Environment

[1010] Of the upcoming IPCC Fourth Assessment Report

Whenever a debate on climate change occurs, more often than not, the Intergovernmental Panel on Climate Change, the IPCC for short, will be cited. The IPCC is regarded by most, according to Wikipedia, as the authority in the science of climate change. Up to date, three Assessment Reports that summarize what we know of climate change have been published. The latest edition was issued in 2001. Come February 2007, the IPCC will release its Fourth Assessment Report.

Screenshot. Fair use. Original document by IPCC.
A screenshot of a page of the Report.

The third report affirms the relationship between human activities and current climate change we’re experiencing. Quoting a paragraph in page 10 of the Summary for Policymakers of the Third Assessment Report:

In the light of new evidence and taking into account the remaining uncertainties, most of the observed warming over the last 50 years is likely to have been due to the increase in greenhouse gas concentrations.

It also projects an increase of average surface temperature between 1.4º and 5.8º C from 1990 to 2100. Sea level is expected to rise between 0.1 and 0.9 meter during the same period.

While the new report will only be release in February, The Telegraph offers the public a glimpse of what to expect from the report:

In a final draft of its fourth assessment report, to be published in February, the panel reports that the level of carbon dioxide in the atmosphere has accelerated in the past five years. It also predicts that temperatures will rise by up to 4.5 C during the next 100 years, bringing more frequent heat waves and storms.

The panel, however, has lowered predictions of how much sea levels will rise in comparison with its last report in 2001.

Based on the article at The Telegraph, the IPCC sets to restrict the average temperature rise between 1.5º and 4.5º C and decrease the ceiling for the sea level estimated rise from 0.9 meter to 0.4 meter.

Because the latest report tightens the expectation range, in the article:

Climate change sceptics are expected to seize on the revised figures as evidence that action to combat global warming is less urgent.

Before that happens, the point is that:

Scientists insist that the lower estimates for sea levels and the human impact on global warming are simply a refinement due to better data on how climate works rather than a reduction in the risk posed by global warming.

Also, it is expected that the IPCC will make a connection between global warming and stronger storms. The relationship was probably popularized after Katrina hit New Orleans. RealClimate has an article on the relationship between sea temperature and hurricane strength.

Talking about that relationship, some might be tempted to make a connection between climate change and the recent bout of typhoons that had hit eastern part of Southeast Asia. A connection might be made but I’d rather wait for an expert to offer an opinion, especially when El Niño is in the equation. For your information, El Niño transfers warm water from west to east Pacific. Keeping the relationship between warmer water and stronger storm, El Niño introduces weaker storms. Maybe, this is a good question to ask the people at RealClimate.

Regardless, one thing is certain: the 2007 report will maintain the connection between human activities and climate change.